Anyone who's done a recent BANK VALUATION (or SOLD) BALLARAT property ?

[m_yapa]

Hi,

I'm going to do my first IP in ballarat. Looking around I can see lot of investors got a property in ballarat in their portfolio.

Question :- Has anyone done a valuation with bank lately.
could you share the details with me

1. Property size, Land size
2. Purchase price and current valuation by bank
3. Suburb or location
4. Rental capacity
5. Purchase year

To help me pinpoint the location to buy, narrow my search

Looking at other threads in ballarat I saw that properties were 80k - 90k in 1994 has grown to 180k - 210k by 2004.

Checked the free suburb profile but could nt find much data. I mean we do get a mean value, I 'm lookingfor first hand information from investors in the area.

Thanks everyone

 

[m_yapa]

so 99 visits and no responses.. May be I'm asking the wrong questions

 

[Property Meister]

well, ballarat is a regional area,

so your audience is going to be a bit narrower,

then you further narrow it down to someone who has a property in Ballarat

then you even further narrow it down to someone whos done a recent valuation.

There are a couple of people who own here in Ballarat, however, recent valuations, im not sure,

someone will comment soon,

 

[Melbournian]

question is what do you hope to achieve in ballarat?

 

[graisme]

hope to achieve

dunno melburnian,
i've double the rent and upped the value of the purchase by @70% in 18 monthsm but you're right; stay in the cities....

 

[RenoTeam]

M_Yapa,

Have you decided on an investment path? Is this ballarat property going to be a buy and hols. buy renovate and rent or buy renovate and sell, ot maybe buy demolish and build? ]

Holly

 

[Player]

dunno melburnian,
i've double the rent and upped the value of the purchase by @70% in 18 monthsm but you're right; stay in the cities....

.......that leaves more deals available for you

 

[graisme]

you got it!!

 

[Player]

you got it!!

...........

 

[Melbournian]

dunno melburnian,
i've double the rent and upped the value of the purchase by @70% in 18 monthsm but you're right; stay in the cities....

yeah i could gamble in the casino to make 100X of my capital.
u're right ballarat has super value with its risk profile.

 

[vicplanner]

Melbournian i can understand your view point, staying safe within the major cities has a proven record that the country cities cannot compare to (over longer terms). However Ballarat, Bendigo and Geelong have all had 10% capital growth per year for a long time and therefore are competitive with major cities. Given the housing pressures of metropolitan melbourne Ballarat has become an attractive option for many to relocate. Im fairly certain there population growth is 1.8% a year and as an investment option they provide a feasible alternative for those who may not have the available funds to purchase in Melbourne or other major cities. Discounting regional cities particularly at a time when the state government is improving there infrastructure shows a lack of awareness and understanding of changing climates and market conditions.

 

[Melbournian]

vic gov is budget is already in the pits...

name some future infrastructure that is happening in ballarat, bendigo or geelong

let's see if anything does happen. by then would have made your money elsewhere.

 

[BernieLarkham]

I'd suggest you look at the recent release of Valuer Generals data if you have concerns about Ballarat. It's a no brainer with low entry points, excellent yields good CG and a variety of industry. Not to mention tight as hell vacancy rates.